All Categories
    Filters
    Preferences
    Search
    RSS

    Blog

    Your Weekend Recap: Experian Lied About Credit Scores it Sold
    Your Weekend Recap: Experian Lied About Credit Scores it Sold

    News related to fraud and the Fair Credit Reporting Act that broke last weekend.

    The top story? Experian lied to consumers about credit scores it sold, must pay $3 million

    Counterfeit Currency: Feds Say "Fake Money" Trafficking  is Worth More Than Cocaine Trade!
    Counterfeit Currency: Feds Say "Fake Money" Trafficking is Worth More Than Cocaine Trade!

    By: Carly Souther

    Downloadable ProductU.S. Secret Service "Know Your Money" PDF

    During the 2015 fiscal year, the U.S. Secret Service seized about $146 million in fake banknotes.

    Most recently, in November 2016, the Secret Service announced its largest ever seizure of fake U.S. bills. $30 million and €50K were recovered from buildings in Lima, Peru. Some counterfeit notes, such as the Peruvian note and North Korea's "supernotes," are difficult-to-create: They are made from the same three-quarters cotton, one-quarter linen fiber paper composition used in real U.S. dollars. Others, such as a Virginia hairstylist's "washed" notes, are easier to create (but nonetheless difficult to detect).

    Perhaps you think that your employees have examined so many authentic bank notes that they can quickly spot a fake. Yet, this may not be the case. Although the money becomes the customer's property when s/he leaves your institution, strict policies on refunding bills do not instill customer trust nor are the good for your corporate image

    If you'd like to learn more about the financial impacts of counterfeit currency and the protective measures your institution can take to prevent the receipt of fake money, register for our upcoming "Fraud Fighter" program on Thursday, 18 of May at 11AM ET.